Panmure Gordon has downgraded the leisure group from “hold” to “sell”, with a decrease in target price from 2688p to 2644p. Despite a strong performance from Costa, the broker thinks that the coffee chain and Premier Inn will reach saturation in the UK sooner than anticipated.
UBS has started covering the miner with a “neutral” rating and target of 210p. The broker sees a chance of modest price rises in gold and silver, following the sharp fall in recent months, but sees Hochschild as a high-cost producer and prefers Fresnillo as a play on the precious metals.
Numis has an “add” rating and price target of 425p ahead of the cinema chain’s first-half results tomorrow. The broker expects pre-tax profits to rise 22 per cent to £16.4m on admissions per screen up 5.4 per cent on a like-for-like basis.